MODERN WORLD

SYSTEM
 WALLESTEIN’S MODEL

CORE PERIPHERY

SEMI-
PERIPHE
RY
• Capitalist World Economy
• Core- known as high income countries

• Periphery- Low income countries

• Semi- periphery- Middle class countries

Periphery is dependent to the core.
Semi-periphery or middle class countries have
more access to the core or rich countries.
 DEPENDENCY THEORY
Poor countries depends on richer countries.

Dependency theory is not a ‘zero-sum game’

 One country getting richer doesn't mean other
countries are getting poor.
 WORLD ECONOMY
• Although Colonialism left scars, it is not really the cause
of economic disparties to other countries.

• Africa and Ethiopia were not colonialized but they had

very little contact with richer nations.
Statistics:
• People globally living on less than $25
per day has more than halved since
1981 going from 52% - 22% as of
2008.